Posts with tag 'Black Butte Ranch'
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Central Oregon Real Estate Market Trends - 2nd Quarter 2024
Central Oregon Market Trends 2nd Quarter 2024
The Central Oregon real estate 2024 market trends for most of the major urban areas continue to reflect a seller's market in 2nd quarter, although that has changed in La Pine where inventory levels at 7.4 months reflect a buyer's market; Powell Butte and Madras are in a balanced market at 6 months. Although still in a seller's market, inventory is at a level in Bend that hasn't been seen since July, 2015 when the average home price was $391,000 and mortgage interest rates were at 4%.* With more inventory, days on market have also ticked up, but well priced homes can still sell quickly and multiple offers can happen. Bend, Redmond and Sunriver are showing strong upward trends in all categories (the only exception for Bend is the number of homes sold) with home prices, listings, inventory levels and days on market all rising. As we move into 3rd quarter, we expect mortgage interest rates may drop, which could enable more home buyers to afford a Central Oregon home.21
The Trail is Open to the Top of Black Butte
Black Butte Trail is Short but Steep
The trail to the top of Black Butte starts part way up the butte after a drive on a fairly well maintained dirt and gravel road followed by a poorly maintained dirt and rock road. Once you reach the trailhead (complete with stocked toilets), the two mile hike to the top of the butte can be accomplished fairly quickly. Hikers gain over 1500 feet in the two miles, but the Cascade views from Broken Top to Mt Adams can be spectacular on a clear day.
There is limited parking at the Black Butte Trailhead (forest pass required) so hikers are recommended to arrive early to get a spot and to avoid crowds. The hike is very popular with visitors to Black Butte Ranch and and Camp Sherman as well as local year-round residents.
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Central Oregon Real Estate Market Trends 1st Quarter 2024
Central Oregon Market Trends 1st Quarter 2024
The Central Oregon real estate market trends for the major urban areas continue to reflect a seller's market, although residential inventory levels have risen in most locations. The desperate lack of inventory experienced during Covid has changed, and while home prices overall continue to rise, in some smaller markets price reductions can be noted. With more inventory, days on market have also generally gone up, but well priced homes are still selling quickly and multiple offers can happen. Bend, Redmond and Sunriver are showing strong upward trends in all categories with home prices, listings, inventory levels and days on market all rising. Whether or not this trend continues in 2nd quarter with mortgage interest rates well about 7% remains to be seen.